Gold, Silver, Platinum Forecasts – Gold Tests The $2050 Level As Treasury Yields Pull Back

Vladimir Zernov
Published: Feb 29, 2024, 17:06 GMT+00:00

Key Points:

  • Gold managed to move out of the recent trading range and tested new highs at $2050.
  • Silver climbed back above the $22.50 level.
  • Platinum remained stuck near the key support at $880.
Gold, Silver, Platinum Forecasts

In this article:


Gold 290224 Daily Chart

Gold is moving higher as traders focus on the pullback in Treasury yields.

From the technical point of view, gold markets managed to move higher after a period of consolidation, which is a bullish sign. A move above the $2050 level will open the way to the test of the resistance at $2065 – $2075.


Silver 290224 Daily Chart

Silver rebounds as traders focus on rising gold markets. Gold/silver ratio settled near the 90.50 level, which is worrisome for silver bulls.

If silver stays above the $22.50 level, it will head towards the 50 MA at $22.98.


Platinum 290224 Daily Chart

Platinum continues its attempts to settle below the support at $880 amid demand worries.

If platinum manages to settle below $880, it will head towards the next support level, which is located in the $840 – $850 range.

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About the Author

Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.

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